Business
First production Tyler County
First production Tyler County.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6929I Pantheon Resources PLC 28 November 2018 \n\n \n \n \n \n \n \n \n28 November 2018\n \n \nPantheon Resources plc\nFirst production Tyler County\n \nPantheon Resources plc (\"Pantheon\" or \"the Company\"), the AIM-quoted oil and gas exploration company with a 50% - 75% working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas is pleased to announce the following update on VOS#1 well. \n \n \nFirst production Tyler County\n \nThe VOS#1 well was connected to the Enterprise pipeline system on 1 November. Cleaning up the well, which had been shut-in for over 2 years, has taken time. The well is being conservatively managed and is today producing at a rate of 2,000 mcfpd with a trace of oil on a 10/64ths choke. The flowing tubing pressure (\"FTP\") is 7800 psi.\n \nJay Cheatham, CEO, stated \"After over a 2 year shut-in period the well is exhibiting good characteristics with good reservoir energy. Now that Pantheon controls operations, we will manage this well conservatively in order to avoid any reservoir damage. With today's strong gas prices, the well can generate valuable cash flows for Pantheon.\"\n \n-Ends-\n \n \n \n \n \nFurther information:\n \n\n\n\nPantheon Resources plc\n\n\n+44 20 7484 5361\n\n\n\n\nJay Cheatham, CEO\n\n\n\n\n\n\n\nJustin Hondris, Director, Finance and Corporate Development\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nArden Partners plc (Nominated Adviser and broker)\n\n\n+44 20 7614 5900\n\n\n\n\nPaul Shackleton \nDaniel Gee-Summons \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting\n\n\n\n\n\n\n\nBen Brewerton\n\n\n\n\n\n\n\n\n\n\n+44 20 3727 1000\n\n\n\n\n\n\n\n\n\n\n\n \nFor further information on Pantheon Resources plc, see the website at: www.pantheonresources.com\n \nThe information contained within this RNS is considered to be inside information prior to its release.\nNeither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement. \nIn accordance with the AIM Rules - Note for Mining and Oil & Gas Companies - June 2009, the information ...